- Dollar regains ground after fall on Wednesday before data.
- EUR / USD maintains a bullish bias on the broad view, but looks weak on Thursday.
The EUR / USD is falling on Thursday, in a context of moderate rise of the dollar against the main European currencies. Progress is being limited ahead of the release of US economic data and the second presidential debate.
The The pair’s price fell to 1.1820, matching the lows of Wednesday, the day the EUR / USD reached 1.1880, the highest in a month. The intraday tone is bearish, but in a broader perspective, the euro is still constructive. Key support can be seen at 1.1720, which is where an uptrend line is passing. The break of this level would point to more losses for the pair and would negate the bullish bias.
From the fundamental point of view, the strength of the dollar is driving the fall of the EUR / USD, but the movement does not seem to have great force. The DXY is rising after falling to the lows since early September and is approaching 93.00.
In the fundamental aspect, the operators continue with attention on the American policy. On the one hand there will be the presidential debate and the negotiations for more fiscal stimuli continue. Regarding data, at 12:30 GMT the report of requests for unemployment benefits will be published and later, the report of the sale of existing homes and the index of the Kansas Fed.
Credits: Forex Street
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